Choosing to study for an MBA degree (otherwise known as a Master of Business Administration) is a huge feat for many budding business professionals, aspiring managers, and entrepreneurs. Therefore, not only will you want to ensure that enrolling in an MBA program is the right choice and the best fit for you and your aspirations, but you will also want to know what to expect from an MBA degree program.
Overall, an MBA will present you with many advantages, especially if you study and graduate from a respected business school. Other advantages typically involve landing a high paid job after graduation, creating a network of like-minded entrepreneurs, or even starting your own business and becoming your own boss. But what can you expect to learn in an MBA degree program?
Many MBA candidates are young business people who already possess at least a few years of professional experience. However, senior business people can also apply. Most find an MBA useful when it comes to refreshing their existing business skills or learning to navigate in an everchanging world of business.
You will typically find MBA classes are dedicated to helping business people develop skills needed to keep a business successful. You will learn both short-term and long-term goals that help you keep a business (whether it is your own or not) afloat, such as decision making, critical thinking, leadership skills, as well as the typical business skills of economics and finances.
Of course, the core syllabus of each MBA can differ. However, there are common and essential business modules that will make up each and every MBA degree program.
Once enrolled on an MBA program, you are likely to find the following modules available:
- Leadership skills
- People/team management skills
- Networking skills
- How to manage difficult situations (e.g., brand reputation scandals, financial crisis, industry changes)
- Company finances
- Marketing and maintaining a positive company image
- Creating hierarchies to help companies thrive
- How to make the tough decisions
- Hiring the best talent and building a good team
Many MBA modules focus on pulling you out of your comfort zone so that you can learn to handle high-pressure issues in a safe environment.
Specialisations to Fit Your Goals and Aspirations
Much like many other degrees, you can specialise with an MBA. Therefore, be sure to check how an MBA degree can branch off if you are wanting to specialise in a particular area of business.
Here’s a list of the most typical MBA specialisms:
- General Management: The most common MBA specialism that focuses on the core modules. This degree is ideal for business people wishing to develop an all-round skillset. You will usually be able to apply these skills to most if not all business environments.
- International Business: For those who wish to work abroad or work in an international company, an MBA degree in International Business is ideal. This is becoming a much more popular MBA degree choice as many more businesses are going global, and therefore, having an understanding of international business practices is becoming more essential.
- Marketing: An MBA degree that focuses on business that promotes products and/or services. Ideal for those who wish to work in a PR or digital marketing firm.
- Strategic Management: Ideal for those who wish to focus on business practices and planning.
- Consulting: Perfect for business professionals who wish to consult other business people on how they could better run their company. This can be applied to a variety of sectors and is usually very well paid. There are many advantages to being a business consultant.
- Entrepreneurship: Who doesn’t want to start their own business and see it succeed? This MBA degree is essential for those whose main focus is to start their own business; however, you will want to already have a business concept.
- Human Resources (HR): This MBA degree specialism is perfect for business professionals who wish to lead and motivate HR teams. This degree will focus on team development, morale, defining job specialisms and responsibilities, and conflict resolution.
Many universities may offer dual specialisms. By graduating with a dual degree, you can make yourself even more marketable.
How to Start Your Own Business
Many people choose an MBA because they are budding entrepreneurs. They want to learn how to start their own business and ensure that it remains successful. An MBA, in general, will offer great leadership skills and business insight. However, you can also specialize in an Entrepreneurship MBA degree.
MBAs are a go-to for many entrepreneurs because most MBA lecturers have real-life experience in starting a business. These lecturers can provide insight on major dangers you need to avoid as well as how to grow your company and maintain a profit over the years. Furthermore, you can meet like-minded individuals who will become useful to have in your business network. You may also wish to foster a partnership with someone.
Finding an MBA Degree Program Perfect for You and Your Needs
With so much choice, it can be difficult to decide which MBA degree program is best for you. Luckily, there are many MBA degree programs to choose from, but you should first decide whether you want to attend university traditionally or undergo online study.
There are many benefits to studying an MBA online as it allows you to balance a job or a family while you learn the leadership skills needed to start your own business. Aston University, for instance, has many accredited MBA degrees to choose from, from global business to entrepreneurship – all while offering the benefits of distance learning. The university’s unique mix of workshops and learning styles allows MBA students to learn leadership and communication skills while also offer them the chance to network with other businesspeople.
Attaining an MBA is a valuable and viable means of gaining the skills necessary to start a successful small business or improve your pre-existing leadership skills so that you can apply them to your existing job. Whether you wish to become an entrepreneur or become the best business consultant in your area, an MBA degree is a great way to improve your skillset.